‎Saudi Fisheries EGM rejects capital hike proposal

‎<p><img src="https://argaamplus.s3.amazonaws.com/083a4de3-9d68-417f-b684-f2e56d9158fb.png" ></p> <p class="ckeCaption" ><!--StartFragment-->Saudi Fisheries shareholders reject a proposed 500% capital increase through a SAR 334.93 million rights issue.<!--EndFragment--></p> <hr> <div data-olk-copy-source="MessageBody" ><a href="https://www.argaam.com/en/tadawul/tasi/sfico" target="_blank">Saudi Fisheries Co.</a>'s shareholders rejected a board recommendation to increase the company's capital by 500% to SAR 401.92 million from SAR 66.99 million through a SAR 334.9 million rights issue.</div> <div data-olk-copy-source="MessageBody" ></div> <div >This came during the extraordinary general meeting (EGM) held on Sept. 27.</div> <div ></div> <div >In a statement to <strong>Tadawul</strong>, the company said votes in favor of the proposal accounted for 72.36%, while 26.77% voted against and 0.87% abstained.</div> <div ></div> <div >Meanwhile, shareholders approved the election of board members for the next three-year term, starting Oct. 25. The elected members are Abdulaziz Al-Humaid, Abdulmajeed Al Al-Sheikh, Mansour Al-Sagheer, Mohammed Al-Razouq, and Rayan Al-Mansour.</div> <div ></div> <div >According to <span ><strong>Argaam </strong></span>data, Saudi Fisheries' board recommended in February 2025 increasing the company's capital through a rights issue worth SAR 334.93 million.</div> <div ></div> <div > <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="3" > <p ><strong><span ><span ><span >Planned Use of Proceeds</span></span></span></strong></p> </td> </tr> <tr > <td rowspan="7" > <p ><strong><span ><span ><span >Use of proceeds</span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Investment in dates trading and establishment of a plant for dates processing industries and related logistics services</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >250</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Settlement of accrued expenses</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >20.19</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Repayment of loans</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >3.90</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Settlement of creditors</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >13.84</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Working capital financing</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >32.96</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Offering costs</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >14.04</span></span></span></p> </td> </tr> <tr > <td > <p align="center" dir="RTL" ><strong><span dir="LTR"><span ><span ><span >Total</span></span></span></span></strong></p> </td> <td > <p align="center" dir="RTL" ><span ><span ><span >334.93</span></span></span></p> </td> </tr> </tbody> </table> <div ></div> <div> <p>The Capital Market Authority approved in April 2026 the company's application to increase its capital through a rights issue.</p> </div> </div>

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Argaam - Main News · Trade Publication

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28th September 2026

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argaam.com

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